Bitcoin continues in its unstoppable fall

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On Friday morning of July 8 of this year, Bitcoin (BTC) managed to quote its cup at USD 22,300, a price that allowed it to overcome its resistance by USD 22,000. It should be noted that, for 25 days, it had not been able to exceed this figure. However, this price only remained above its barrier in a short time since, 8 hours later, it fell to the minimum of USD 21,300.

In view of what happened, the experts who make life in the world of digital currencies decided to explain in the Russian economic newspaper of the RBC, what are the possible causes that have generated this unstoppable fall in the crypto market and at the same time, they took the opportunity to make public the predictions they have about the future of the crypto world.

Vladislav Antonov, crypto analyst indicated that, the market capitalization of all cryptocurrencies in recent months has suffered a strong recession and the exact figure that rounds off this decrease is between 2.26 trillion US dollars, up to 854,000 million dollars.

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Referring to Bitcoin, Antonov explained that, this cryptocurrency lost more than 37.29% at the time of evaluating the dollar that was reflected during the month of June. For the second quarter of 2022, this figure was 56.18% and, last but not least, in the six-month period the figure reached 56.85%. As we can see in these figures, BTC during the second quarter obtained its worst record, thus surpassing the one it reached in 2011.

For the analyst, the collapse that Bitcoin has been having, is due to the flight orchestrated by investors and, they do it through the risk that always exists in the monetary policy with more restrictive. Similarly, the collapse by two cryptocurrencies that were related to each other, these being Luna and Terra USD.

Addressing the figures that were reflected between July 1 and 2, Antonov wanted to remember that Bitcoin, this being the main cryptocurrency of this digital market was located at USD 19,200, a figure that represents the decrease of 72% at the time of comparing it with the USD 69,000 that it reflected in November 2021.

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However, the specialist also indicated that all the indices of the S&P500 and the Nasdaq, showed a close on July 1 and their rise was 1.06% and 0.90%. These figures provided the opportunity for its consumers to control the market during that weekend.

For Antonov, that Bitcoin keeps its price below USD 20,000, is very bad for buyers and in his opinion, this situation will continue to be tense during the last 6 months remaining of the year. In the same way, he explained that buyers are living a moment of depression as a result of the low activity in the market and this behavior can easily lead to a new fall of approximately 30%, a figure that would pink usd 14,500 - 15,000.

Similarly, Antonov assures that there may be a change in mood on the part of investors, however, this would be achieved if the quarterly report published by American companies maintains the stock market indices that they reflected at the end of June. Antonóv was also very emphatic in saying that BTC needs to have a fixed rate above USD 24,500, a figure that would allow it to have a comfortable increase of USD 28,000.

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Although the expert has this prediction, he was also very accurate in saying that for the moment, there are no events that allow to conquer the confidence of investors again and at the same time, urge them to return to the crypto market and in view of the fact that last month closed with scandalous figures, there are no possible indications that allow us to believe 100% that this situation will improve during the month of July.